UBS
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UBS Global Asset Management (GAM) has named the replacement to lead its Asia Pacific business following the decision by CEO Kai Sotorp to join Manulife Asset Management. -
Bank of Ireland is likely to hit the market Wednesday with its planned euro denominated 10 year non-call five year lower tier two transaction in what would be the first euro denominated benchmark size capital deal from an Irish bank since the crisis.
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Ion Trading, the UK financial software provider, has increased the euro and decreased the dollar portion of its €838m-equivalent loan.
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China’s Tianhe Chemicals Group launched its HK$6.34bn ($818m) IPO on June 3 and investors are having plenty to do in order to figure the transaction out. There are no direct comparables for the Liaoning based firm.
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China’s largest container port operator for crude oil and iron ores, Qingdao Port International, raised HK$2.92bn ($377m) on May 30 via a friends and family IPO.
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ABH Financial Limited has mandated Alfa Bank, Commerzbank and UBS to arrange a euro denominated Reg S senior unsecured bond, but bankers away from the note disagreed on whether the deal, which will be sub-benchmark size, will serve as a market reopener for Russian issuers.
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Zurich Insurance took to its home market on Monday to sell hybrid bonds, feeding Swiss investors’ demand for an asset class that has seen little supply in the first half of 2014. Dutch lender ABN Amro will also sell bonds on Monday, selling a floater at the short end of the curve.
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Beijing Automotive Group printed Rmb1.5bn ($243m) for its debut international bond on May29. The unrated automaker’s close ties to the Beijing Municipal government helped its three year issue to build a strong following with investors.
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The primary covered bond market is set to pick up next week, with deals from issuers in the UK, Germany and New Zealand in the offing. Yorkshire Building Society announced its intention to go on the road and bring its first euro deal in five years, Westpac New Zealand has said it also launch a roadshow next week to market the first covered bond since the country enacted a legal framework and Dexia Kommunalkreditbank is set to return with its first deal since 2011.
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Polish cable firm Multimedia Polska pulled its IPO on Wednesday night, as the pension fund reform that larger deals had swatted off came back to hurt it, alongside a general lack of excitement around the deal.
